Crypto

10 Best Cryptocurrencies in June 2022

Published

3 years ago

June 20, 2022

From Bitcoin and Ethereum to Dogecoin and Tether, there are literally thousands of completely different cryptocurrencies, making it overwhelming whenever you’re first getting began on this planet of crypto. That can assist you get your bearings, these are the highest 10 cryptocurrencies primarily based on their market capitalization, or the overall worth of all the cash presently in circulation.

What Are Cryptocurrencies?

A cryptocurrency is a digital asset that may flow into with out the centralized authority of a financial institution or authorities. Thus far, there are greater than 19,000 cryptocurrency tasks on the market that symbolize your entire $1.6 trillion ($1.3 trillion USD) crypto market.

1. Bitcoin (BTC)

Market cap: $572 billion CAD ($444 billion USD)

Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the unique cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed throughout a community of hundreds of computer systems. As a result of additions to the distributed ledgers should be verified by fixing a cryptographic puzzle, a course of known as proof of labor, Bitcoin is stored safe and secure from fraudsters.

Bitcoin’s worth has skyrocketed because it’s turn into a family title. In Might 2016, you could possibly purchase one Bitcoin for about $648 ($500 USD). As of June 1, 2022, a single Bitcoin’s worth was round $38,500 ($29,700 USD). That’s development of greater than 5,800%.

Associated: How To Purchase Bitcoin

2. Ethereum (ETH)

Market cap: $191 billion CAD ($148 billion USD)

Each a cryptocurrency and a blockchain platform, Ethereum is a favourite of program builders due to its potential functions, like so-called sensible contracts that routinely execute when circumstances are met and like non-fungible tokens (NFTs).

Ethereum has additionally skilled large development. From April 2016 to the start of June 2022, its worth went from about $14 ($11 USD) to over $2,333 ($1,800 USD), growing virtually 16,300%.

Associated: How To Purchase Ethereum

3. Tether (USDT)

Market cap: $92 billion CAD ($72 billion USD)

In contrast to another types of cryptocurrency, Tether (USDT) is a stablecoin, that means it’s backed by fiat currencies like U.S. {dollars} and the Euro and hypothetically retains a price equal to a type of denominations. In concept, this implies Tether’s worth is meant to be extra constant than different cryptocurrencies, and it’s favored by traders who’re cautious of the intense volatility of different cash. Should you’re searching for a stablecoin pegged to the soundness of the Canadian greenback as a substitute, then QCAD is what you need.

4. U.S. Greenback Coin (USDC)

Market cap: $69 billion CAD ($54 billion USD)

Like Tether, USD Coin (USDC) is a stablecoin, that means it’s backed by U.S. {dollars} and goals for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you should utilize USD Coin to finish international transactions. There’s one stablecoin that’s pegged at a one to at least one ratio to the Canadian greenback known as QCAD, however if you wish to be transacting in accordance with the present U.S. greenback worth, USDC is definitely a principal choice.

5. Binance Coin (BNB)

Market cap: $47 billion CAD ($37 billion USD)

Binance Coin (BNB) is a type of cryptocurrency that you should utilize to commerce and pay charges on Binance, one of many largest crypto exchanges on this planet. Since its launch in 2017, Binance Coin has expanded previous merely facilitating trades on Binance’s trade platform. Now, it may be used for buying and selling, fee processing and even reserving journey preparations. It will also be traded or exchanged for different types of cryptocurrency, equivalent to Ethereum or Bitcoin.

BNB’s worth in 2017 was simply $0.13 ($0.10 USD). By early June 2022, its worth had risen to round $389 ($300 USD), a achieve of roughly 300,000%.

Associated: How To Purchase Cryptocurrency

6. Binance USD (BUSD)

Market cap: $22 billion CAD ($17 billion USD)

Binance USD (BUSD) is a stablecoin that Paxos and Binance based to create a cryptocurrency backed by the U.S. greenback. To keep up this worth, Paxos holds an quantity of U.S. {dollars} equal to the overall provide of BUSD. As with different stablecoins, BUSD provides merchants and crypto customers the flexibility to have interaction in transactions with different crypto property whereas minimizing the chance of volatility.

7. Cardano (ADA)

Market cap: $21 billion CAD ($16 billion USD)

Considerably later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This methodology expedites transaction time and decreases vitality utilization and environmental affect by eradicating the aggressive, problem-solving facet of transaction verification current in platforms like Bitcoin. Cardano additionally works like Ethereum to allow sensible contracts and decentralized functions, which ADA, its native coin, powers.

Cardano’s ADA token has had comparatively modest development in comparison with different main crypto cash. In 2017, ADA’s worth was $0.03 ($0.02 USD). As of June 1, 2022, its worth was at $0.71 ($0.55 USD). This is a rise of two,650%.

8. XRP (XRP)

Market cap: $20 billion CAD ($15 billion USD)

Created by among the similar founders as Ripple, a digital expertise and fee processing firm, XRP can be utilized on that community to facilitate exchanges of various foreign money varieties, together with fiat currencies and different main cryptocurrencies.

At the start of 2017, the value of XRP was $0.01 ($0.006 USD). As of June 1, 2022, its worth reached $0.52 ($0.40 USD), equal to an increase of greater than 6,400%.

9. Solana (SOL)

Market cap: $12 billion CAD ($10 billion USD)

Developed to assist energy decentralized finance (DeFi) makes use of, decentralized apps (DApps) and sensible contracts, Solana runs on a novel hybrid proof-of-stake and proof-of-history mechanisms to course of transactions shortly and securely. SOL, Solana’s native token, powers the platform.

When it launched in 2020, SOL’s worth began at $1 ($0.77 USD). By early June 2022, its worth was round $52.61 ($40.58 USD), a achieve of greater than 5,100%.

10. Dogecoin (DOGE)

Market cap: $9 billion CAD ($7 billion USD)

Dogecoin was famously began as a joke in 2013 however quickly developed right into a distinguished cryptocurrency due to a devoted group and inventive memes. In contrast to many different cryptos, there is no such thing as a restrict on the variety of Dogecoins that may be created, which leaves the foreign money inclined to devaluation as provide will increase.

Dogecoin’s worth in 2017 was $0.0003 ($0.0002 USD). By June 1, 2022, its worth was at $0.10 ($0.08 USD), up virtually 40,000%.

*Market caps and pricing sourced from coinmarketcap.com, present as of June 20, 2022.

Crypto

Bitcoin miner's claim to recover £600m in Newport tip thrown out

Published

2 hours ago

January 9, 2025

Press Room

Bitcoin miner's claim to recover £600m in Newport tip thrown out

During the hearing in December the court heard how Mr Howells had been an early adopter of Bitcoin and had successfully mined the cryptocurrency.

As the value of his missing digital wallet soared, Mr Howells organised a team of experts to attempt to locate, recover and access the hard drive.

He had repeatedly asked permission from the council for access to the site, and had offered it a share of the missing Bitcoin if it was successfully recovered.

Mr Howells successfully “mined” the Bitcoin in 2009 for almost nothing, and says he forgot about it altogether when he threw it out.

The value of the cryptocurrency rose by more than 80% in 2024.

But James Goudie KC, for the council, argued that existing laws meant the hard drive had become its property when it entered the landfill site. It also said that its environmental permits would forbid any attempt to excavate the site to search for the hard drive.

Crypto

Gensler Says Crypto Oversight Still Essential | PYMNTS.com

Published

10 hours ago

January 9, 2025

Press Room

Gensler Says Crypto Oversight Still Essential | PYMNTS.com

Gary Gensler will step down as chair of the U.S. Securities and Exchange Commission (SEC) Jan. 20 with the inauguration of President-elect Donald Trump.

But that didn’t stop Gensler from expressing concerns that more needs to be done to regulate the cryptocurrency market, particularly altcoins and intermediaries.

In an interview with Bloomberg Television on Wednesday (Jan. 8), he emphasized that everyday investors still lack adequate disclosures from digital asset firms and said the cryptocurrency landscape is “rife with bad actors,” highlighting the need for regulatory oversight to protect investors from fraud and misinformation.

Gensler’s tenure has been characterized by aggressive enforcement actions against numerous cryptocurrency entities, including high-profile cases involving Coinbase Global and Ripple Labs. Since taking office in 2021, he has overseen about 100 enforcement actions related to cryptocurrencies.

While Gensler’s SEC chair predecessor, Jay Clayton, focused his 80 enforcement actions between 2017 and 2020 on token issuers, Gensler’s approach often targeted market intermediaries for failing to comply with securities laws regarding registration and disclosure.

Meanwhile, Trump has nominated Paul Atkins, a former SEC commissioner known for his pro-crypto stance, to succeed Gensler. This transition is expected to lead to a more favorable regulatory environment for digital assets, potentially reducing enforcement actions against the industry. It’s a sharp contrast with Gensler’s more stringent regulatory approach.

In his remarks, Gensler expressed concern that many of the crypto projects currently in existence are unlikely to survive, comparing them to venture capital investments prone to high failure rates.

Despite criticism from the cryptocurrency community that classifying most crypto assets as securities has stifled innovation, Gensler defended his record in the interview. He asserted that the SEC’s actions were necessary to maintain market integrity and investor protection.

“I’ve never seen a field that’s so much wrapped up in sentiment and not so much about fundamentals,” he remarked, underscoring his belief that regulatory clarity is essential for the cryptocurrency industry’s future.

For more on what’s to come, read up on PYMNTS’ “Three Most Important US Crypto Policies to Watch This Year.”

See More In: coinbase, crypto regulation, Cryptocurrency, Gary Gensler, Jay Clayton, News, Paul Atkins, PYMNTS News, Ripple, SEC, Securities and Exchange Commission, What’s Hot

Crypto

Sen. Bernie Moreno supports loosening regulations on some cryptocurrency assets

Published

18 hours ago

January 8, 2025

Press Room

Sen. Bernie Moreno supports loosening regulations on some cryptocurrency assets

WASHINGTON, D.C. — Bernie Moreno’s victory in the Ohio Senate race was a big win for the cryptocurrency industry, which spent more than $40 million supporting his candidacy. Now in office, Moreno said he would support legislation the industry is seeking that would govern how it is regulated.

What You Need To Know

Sen. Bernie Moreno said he would support new legislation to govern how the cryptocurrency industry is regulated

The crypto industry spent tens of millions of dollars to support Moreno in the Ohio Senate race

Moreno’s support of laws sought by crypto interests is a stark contrast from his Democrat predecessor, former Sen. Sherrod Brown

Moreno has long been involved with the crypto industry. He has a background in blockchain, the same technology used to for cryptocurrency. He previously founded Champ Titles, a digital car titling company that was among the first to use blockchain for digital titles.

The cryptocurrency industry also helped fuel his Senate win. Super PAC Defend American Jobs spent $40.1 million on the race, more than any other outside group. The super PAC is affiliated with Fairshake, another super PAC that is funded by Coinbase, Ripple and other crypto companies.

Moreno’s support of laws sought by crypto interests is a stark contrast from his Democrat predecessor, former Sen. Sherrod Brown.

As Chairman of the Senate Banking Committee, Brown blocked advancing a bill to loosen the regulation of some crypto assets, known as the Financial Innovation and Technology for the 21^st Century Act, or FIT 21. The bill would reclassify many kinds of crypto as commodities rather than securities. Rules for commodities, examples of which include oil, wheat or electricity, are generally looser than those for financial securities like stocks or bonds. The bill passed the House last Congress, but remained stalled in the Senate Banking Committee.

Moreno now sits on the Banking Committee, as well as the Senate Committees for Homeland Security and Governmental Affairs; Commerce, Science and Transportation; Budget; and Banking, Housing and Urban Affairs.

“I got the committee assignments I wanted,” Moreno said. “Senator Thune was kind enough to get me on Banking.”

Moreno disagreed with the stance Brown had taken against legislation like FIT 21, countering that the rapidly growing cryptocurrency industry needs better clarification on regulations.

“Crypto is not looking to be deregulated. Crypto is looking to be treated fairly, to have transparent, consistent regulations that treat everybody equally and fairly. That’s what we want,” he said. “Look, at the end of they day, I understand how the technology works and I understand the industry. My opponent had no idea.”

With a new Congress, the House would have to re-introduce and pass another cryptocurrency regulation bill. FIT 21 previously received bipartisan support, with nearly all Republicans and about a third of Democrats voting for it.

Similar legislation would likely move more quickly this Congress, in which Republicans control the House, Senate and White House.